The number of iPhone Apps just got larger with the introduction of the MyFICO credit score estimator. The MyFico App quickly estimates your credit score based upon the answers you provide to 10 multiple choice questions.
The questions are about the number of credit cards you have, how long ago you got your first credit card and first loan, how many loans or credit cards you have recently applied for, how many your loans and/or credit cards have balances and what are those balances, if you have missed any payments or have overdue balances, and whether you have gone through a bankruptcy or foreclosure in the last 10 years.
Since I recently pulled my own FICO score, I decided to put the myFICO credit score estimator to the test and assess its accuracy. The result … my actual FICO score was within the estimated range of the MyFICO credit score estimator. Granted it is a fairly large range but in its defense it is only meant to be an estimation of your credit score and not your actual credit score.
If you are thinking about buying a house in Spring Texas but are concerned your credit is not good enough, give the MyFICO credit estimator a try. It will at least give you a general idea of your credit score. You will need a credit score of at least a 600 and possibly a 620 to qualify for a loan on a Spring Texas home. These days the majority of mortgage lenders require a minimum of a 620 credit score for FHA loans.
Jill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge... read moreJill Wente is an incredible realtor! We lived in the area for about 3 years before taking the house-hunting plunge and truly could not have chosen a better realtor to work with. Jill is professional and patient, she is an incredible resource who is 100% there for her clients at all times. We had a lot of questions and didn't want to pay any closing costs or prepaid costs out of pocket - Jill is a Master Certified Negotiation Expert and it SHOWS. We got exactly what we wanted at the price we wanted AND had several bonuses thrown in, including appliances and gutters. She was there for inspections/walk-throughs and kept in contact with our builder's salesperson as well. If you want a strong realtor who is also pleasant to work with (which I've learned is rare), then Jill is the realtor for you!! read less